Gold continues record breaking rally, jumps Rs 1,100 to all-time high Rs 84,900 per 10g
capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams.
The yellow metal has rallied by Rs 5,510 or 7 per cent since January 1 when the metal traded at Rs 79,390 per 10 grams in the local market.
Gold of 99.5 per cent purity surged by Rs 1,100 to hit a lifetime high of Rs 84,500 per 10 grams from the previous market close of Rs 83,400 per 10 grams.
Silver advanced by Rs 850 to Rs 95,000 per kg on Friday. The white metal had ended at Rs 94,150 per kg on Thursday.
«The bullish momentum in precious metals continues, with spot gold reaching a new all-time high and surpassing the USD 2,800 threshold in the intraday trade on Friday, while the spot gold price in the Delhi market crossed the Rs 84,000-mark,» Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
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